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Old Jul 23rd 2012, 9:08 am   #76
 
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Default Re: Is Australia officially in a Recession

This would tie in with your timescale.
http://www.news.com.au/business/comp...-1226432399955

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Originally Posted by Zen10 View Post
China's not going anywhere, but China has a lot of internal problems to deal with, and collapsing demand from the West (especially basketcase EU) for its products couldn't come at a worse time. I'm not predicting the end of the world, just that Australia could go into recession in the next 18 months for the reasons I say - too big a mining sector and a rapidly decelerating China.
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Old Jul 23rd 2012, 9:40 am   #77
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Default Re: Is Australia officially in a Recession

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Originally Posted by chris955 View Post
This would tie in with your timescale.
http://www.news.com.au/business/comp...-1226432399955
doesn't mention any recession. in fact, it predicts growth. typical tabloidnessity.
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Old Jul 23rd 2012, 10:22 am   #78
 
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Default Re: Is Australia officially in a Recession

Seeing as the economy relies totally on mining to grow at all if mining 'collapses' then who knows
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Old Jul 23rd 2012, 11:54 am   #79
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Default Re: Is Australia officially in a Recession

relies totally on mining?

the economy of Sydney is even bigger than the mining industry, and it's not even a mining city

more than 2/3 of the Australian economy is service sector
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Last edited by commonwealth; Jul 23rd 2012 at 11:56 am.
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Old Jul 23rd 2012, 11:56 am   #80
 
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Default Re: Is Australia officially in a Recession

Seeing as the economy relies totally on mining to grow at all if mining 'collapses' then who knows
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Old Jul 23rd 2012, 11:59 am   #81
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Default Re: Is Australia officially in a Recession

using the same report you quoted, it says forecast annual economic growth of between 3.0 per cent and 3.4 per cent for the next five years.
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Old Sep 6th 2012, 5:46 pm   #82
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Default Re: Is Australia officially in a Recession

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Originally Posted by lumpommer View Post
With prices rising and unemployment rising has recession finally come to Australia.


Unemployment has just come down from 5.2% to 5.1% so you can rest easy.
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Old Sep 7th 2012, 4:17 am   #83
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Default Re: Is Australia officially in a Recession

Well lets face it, reports are manipulated always and everywhere.
Australia is facing a huge recession coming and I think personally that it's one of the best COVER UP countries in the world. If you put some facts on a row;

Blue scope steel - second year of more than 1B A$ loss
BHP - 35% profit
Harvey Norman 32% less profit
Iron ore sank more than 40% in price in a few months (which is the main motor of the Ozzie economy)
retail is really facing huge sinking in profits
everything in Oz is heavily overpriced and I see that many migrants are returning to their home country or go somewhere else (Like the USA)

so yes Australia isn't the best place anymore to go and lets be honest it is just a country with 23 million people which is very inefficient and ineffective.
Look at the infrastructure in Sydney and Melbourne, I can go quicker running from one place to another than by car or public transport.
And at the list of the World Economic Forum it's just ranked at 20. UK is 3rd.
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Old Sep 7th 2012, 4:23 am   #84
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Default Re: Is Australia officially in a Recession

ok. we can leave now.
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Old Sep 7th 2012, 5:06 am   #85
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Default Re: Is Australia officially in a Recession

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Originally Posted by go4it View Post
And at the list of the World Economic Forum it's just ranked at 20. UK is 3rd.
If you're talking about the global competitive index then UK is 8th and Australia is 20th. This is because UK wages have been driven down so much. Woo-hoo!
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Old Sep 7th 2012, 6:10 am   #86
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Default Re: Is Australia officially in a Recession

Quote:
Originally Posted by go4it View Post
Well lets face it, reports are manipulated always and everywhere.
Australia is facing a huge recession coming and I think personally that it's one of the best COVER UP countries in the world. If you put some facts on a row;

Blue scope steel - second year of more than 1B A$ loss
BHP - 35% profit
Harvey Norman 32% less profit
Iron ore sank more than 40% in price in a few months (which is the main motor of the Ozzie economy)
retail is really facing huge sinking in profits
everything in Oz is heavily overpriced and I see that many migrants are returning to their home country or go somewhere else (Like the USA)

so yes Australia isn't the best place anymore to go and lets be honest it is just a country with 23 million people which is very inefficient and ineffective.
Look at the infrastructure in Sydney and Melbourne, I can go quicker running from one place to another than by car or public transport.
And at the list of the World Economic Forum it's just ranked at 20. UK is 3rd.
shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh but as long as houses prices continue to rise all will be OK

The majority of Aussies could give a flying **** what is going on economically in the country so long as houses prices are good.

God knows what would happen if houses prices ever did crash, probably be jumping like lemmings.
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Old Sep 7th 2012, 10:24 am   #87
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Default Re: Is Australia officially in a Recession

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Originally Posted by Jon77 View Post
shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh but as long as houses prices continue to rise all will be OK

The majority of Aussies could give a flying **** what is going on economically in the country so long as houses prices are good.

God knows what would happen if houses prices ever did crash, probably be jumping like lemmings.
House prices have been gradually going down in Brisbane for a couple of years...did no-one tell housepricecrashdotcom because everyone else knows ?
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Old Sep 7th 2012, 11:00 am   #88
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Default Re: Is Australia officially in a Recession

Australias economy is still growing at present, will it continue, who knows, I think it will grow at a lesser rate, but recession, I personally doubt it, but is it possible, I would say it is, but it's impossible to predict.
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Old Sep 7th 2012, 12:10 pm   #89
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Default Re: Is Australia officially in a Recession

Quote:
Originally Posted by fish.01 View Post
House prices have been gradually going down in Brisbane for a couple of years...did no-one tell housepricecrashdotcom because everyone else knows ?
if house prices go down , will it stoke demand for construction?
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Old Sep 7th 2012, 12:50 pm   #90
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Default Re: Is Australia officially in a Recession

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Originally Posted by commonwealth View Post
if house prices go down , will it stoke demand for construction?
Dunno, ask an expert...I'll introduce you to Jon77
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